Asian equities traded in the US as American depositary receipts were surging higher Thursday morning, up 2.91% to 1,978.75 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by automotive ecommerce platform Cango (CANG) and media company Phoenix New Media (FENG), which climbed 7.3% and 5.5%, respectively. They were followed by ecommerce company JD.com (JD) and mobile big data platform Aurora Mobile (JG), which rose 5.4% and 4.9%, respectively.

The decliners from North Asia were led by property technology company Fangdd Network Group (DUO) and brand platform 36Kr (KRKR), which fell 8.3% and 6.3%, respectively. They were followed by education company Four Seasons Education (FEDU) and diagnostic imaging centers company Concord Medical Services (CCM), which dropped 3.7% and 2.8%, respectively.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and financial services company HDFC Bank (HDB), which rose 3.8% and 1.5%, respectively. They were followed by IT firm Infosys (INFY) and business process management company WNS (WNS), which were up 1.1% and 0.9%, respectively.

The decliners from South Asia were led by IT firm Sify Technologies (SIFY), which lost 6.5%, followed by telecommunications operator PLDT (PHI) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were off 0.8% and 0.3%, respectively.